External audit and forecasting market demand analysis for Paytm in Australian Market

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External audit and forecasting market demand analysis
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1. Description of the product
Paytm is a company that uses an e-commerce system of payment. It was established
in 2010 basing on an initial payment of $ 2 million. Patym was founded by an Indian known
as Vijay Shekhar in a part known as Noida near New Delhi (Khatri, 2019). The company
introduced paytm wallet, Indian Railways and by 2017, the paytm payment bank was
introduced with an intention of easing access to banking and financial services to people.
Paytm as an online platform has services like data card, prepaid mobile and utility recharge
(Hanlon, 2019).
2.(i). In this context, the segments that Paytm chose to develop some identified 7Ps
(product, price, promotion, place, packaging, people and positioning) was the “Instant Bank
Settlement especially for Merchants” (Bhalla, 2018). By launching this segment, the Paytm
merchants always identify their specified time for settling the collected payments or even
performing instant settlement as wished for which is made by their bank accounts directly.
Furthermore, liquidity plays a vital role about merchants in managing their cash-map on how to
spend and earn in order to stay in business. Also, Paytm introduced payments through scanning
using QR (Sharma, 2018). This can be done by selecting their preferred mean of payment such as
Paytm Wallet, BHIM UPI and even bank accounts. The company adopts the ‘increment of agents
within the micro context’, digital marketing, person-person interactions among others as the
touch points.

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Figure 1: Cash Flow Diagram for Paytm
Source: Morgan, 2019
The company introduces all safest modes of enriching merchants’ needs in order to
outweigh the competitors in the business (Sharma, 2018). The Paytm competitors are Instamojo,
Zeta and CC-Avenue. However, Paytm seems to be operating on a higher scale than all of these
products. They do operate and produce similar products that put the company in a highly
competitive market which entices them to modify working conditions (Sharma, 2018). It is
evident that, Paytm has a positive revenue trend with the total funding which was estimated to be
$2.3 billion in 2018 more than any other product (Bhalla, 2018).

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Figure 2: Information flow diagram
Source: Codeless platforms, 2019.
Figure 2 shows the way how information is distributed from the main source of Paytm up
to the users with reliable services that have undergone different channels.
Figure 3: Product flow map
Source: Official Paytm Blog, 2019